131 W 3rd Chico, CA 95926

Listing Agency Keller Williams Realty Chico Area m***@legacyinvestmentsre.com Show Phone

Listed by Matthew Herman · License #01505777

Source Crexi

Added: Feb 27 Checked: Jul 16 at 10:29 am

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Investment Insights

Based on property information with market context.

This property features two buildings on a single lot, offering both current income and future potential. Located three blocks from Chico State and Enloe Hospital, the property includes a detached 3-bedroom, 2-bathroom house (133) with a one-car garage, currently used as a part-time AirBnB rental. The house has been remodeled with quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. The front building contains a remodeled 3-bedroom, 1-bathroom unit and a 1-bedroom, 1-bathroom unit, both of which are currently tenanted. Additionally, there are two basement units that have been updated with new tile flooring, walk-in showers, and fresh paint. One basement unit is a 2-bedroom, 1-bathroom unit with a mini split system, washer/dryer, and quartz countertops. The second basement unit is a 1-bedroom, 1-bathroom unit. There is a potential to convert this three-unit property into a five-unit asset through targeted egress improvements, bringing all units into City of Chico conformance.

Key Highlights

• Path to Five Units: Opportunity to convert to a legal five‑unit property through egress improvements.
• Income Potential: Immediate income from existing tenants and AirBnB, with significant upside potential.
• Prime Location: Located three blocks from Chico State, Enloe Hospital, and the Avenues.

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FAQs

What type of property is this?

Triplex - Triplex near Chico State with potential for increased income.

Where is this triplex located?

The property is located at 131 W 3rd Chico, CA.

What is the asking price?

The asking price for this property is $829,000.

What are key features of this property?

This property features: Path to Five Units: Opportunity to convert to a legal five‑unit property through egress improvements.; Income Potential: Immediate income from existing tenants and AirBnB, with significant upside potential.; Prime Location: Located three blocks from Chico State, Enloe Hospital, and the Avenues.